China Banking and Insurance Regulatory Commission: Encouraging Non-Life Insurance Companies to Use Blockchain to Review and Restructure Existing Insurance Policies

According to an August 3 financial sector report, the China Financial Institutions and Insurance Regulatory Authority recently announced the "Three-Year Action Plan." Work (2020-2022) to promote the improvement of the insurance sector ”. “Plan” means that real estate companies and real estate companies will use assets like big data, cloud computing, blockchain and virtual intelligence to modify and rebuild layers. Standard insurance is always available, digital, online and building smart. By 2022, the online share of large companies will reach over 80%. Encourage insurance tools and devices to improve their risk management and control capacities through digitization and to strengthen their core resources such as risk rates, distribution consumers and fraud prevention.